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How to use volume in your trading
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How to use volume in your trading

  #551 (permalink)
Elite Member
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josh View Post
March 9 volume looks to be equal or lowest volume of past 12 days .. why do you say it's a high volume bar? You mean relative to the spread perhaps?

Yes. I meant relative to the volume. Churning is high volume per range.


josh View Post
As for currency futures, do you think this volume is really representative of the global interbank forex system? I mean, it might be close, but how can a few hundred thousand contracts from the CME be a good proxy? It may work fine, I just don't see how they could be so closely correlated as to be accurate enough to use in VSA.

Because 6E traders behave in a similar way the FOREX traders do. A high volume breakout in FOREX (the leading market) will trigger a high volume breakout in the currency futures. If need some arbitrageurs will make up for it.

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  #552 (permalink)
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Thanks FT!

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  #553 (permalink)
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Better Volume X


fat tails,

was trying to use my programming skills. well they still stink.

I wanted to add background colors to your better volume x indicator (for climax and churn bars only). was able to do that half way. if there's a climax or churn bar, the background will show that. but now the problem is if that same bar changes back to up, down or low volume, the background color will stay like a climax or churn. hope that makes sense.

need to make some additional changes to the code. but only getting error messages when I try to add "BackColor = Color.Empty;".

thanks.

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  #554 (permalink)
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Silvester17 View Post
fat tails,

was trying to use my programming skills. well they still stink.

I wanted to add background colors to your better volume x indicator (for climax and churn bars only). was able to do that half way. if there's a climax or churn bar, the background will show that. but now the problem is if that same bar changes back to up, down or low volume, the background color will stay like a climax or churn. hope that makes sense.

need to make some additional changes to the code. but only getting error messages when I try to add "BackColor = Color.Empty;".

thanks.

Maybe you forgot the brackets. Otherwise the line of code is correct. If you cannot fix it, post it here.

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  #555 (permalink)
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Fat Tails View Post
Maybe you forgot the brackets. Otherwise the line of code is correct. If you cannot fix it, post it here.

I did try with brackets. (maybe I'm using them the wrong way).

thank you very much for your help.


Last edited by Silvester17; April 15th, 2011 at 06:22 PM.
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  #556 (permalink)
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Silvester17 View Post
I did try with brackets. (maybe I'm using them the wrong way).

thank you very much for your help.

It looks like a bracket problem. You would need to code something like

 
Code
if( whatsoever )
{
PlotColors[0][0] = Color.Beautiful;
BackColor = Color.Ugly;
}
else if (whatelse)
{
...
...
}

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  #557 (permalink)
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FT,

Is it possible for you to add a paint bar option for your Better VolumeX indicator?

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  #558 (permalink)
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Fat Tails View Post
It looks like a bracket problem. You would need to code something like

 
Code
if( whatsoever )
{
PlotColors[0][0] = Color.Beautiful;
BackColor = Color.Ugly;
}
else if (whatelse)
{
...
...
}

thank you very much. working fine now.

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  #559 (permalink)
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Trafford View Post
FT,

Is it possible for you to add a paint bar option for your Better VolumeX indicator?

Just follow the approach of @Silvester17 and replace "BackColor" with "BarColor".

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  #560 (permalink)
Market Wizard
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Fat Tails View Post
I have played a little, and here is a first version called anaBetterVolumeX, which can be used on

- range charts
- volume charts
- tick charts
- and maybe other charts

did some more investigations.

the new better volume x indicator can also be used for time based charts. if I understand the code correctly, it will plot exactly the same thing like the original better volume indicator on time based charts. of course different results on non time based charts.

so my conclusion is the new better volume x indicator is even more superior than the original:

- same results on time charts
- giving some useful information on non time based charts (range, tick, volume etc)

great work and thanks again.


Last edited by Silvester17; April 16th, 2011 at 10:10 AM.
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